About Boat Registration
State of Delaware is one of the most convenient places on the market to register your valuable yacht. Prestigious American banner at reasonable cost is the main reason why the greatest number of yachts in the world are registered here. All paperwork may be completed in about 2 weeks or less than 10 days if courier service is used. Please note that all yacht registration is valid for calendar year - till 31st December.
In order to register your new, never before registered, a yacht in Delaware -
A dully filled Boat Registration Application For
Invoice
Builder's certificate
Copy of owners ID documents / Corporation
A dully filled Boat Registration Application For
Invoice
Builder's certificate
Copy of owners ID documents / Corporation
In order to register used yacht in Delaware (Delaware Boat Registration) we need:
A dully filled Boat Registration Application Form
Bill of Sale Notarized
Deletion Certificate from previous Registry
Copy of owners ID documents / Corporation
Copy of previous registration document
A dully filled Boat Registration Application Form
Bill of Sale Notarized
Deletion Certificate from previous Registry
Copy of owners ID documents / Corporation
Copy of previous registration document
WHAT IS THE COST TO REGISTER YACHT IN DELAWARE?
The registration cost depends upon the yacht's size.
Privately owned yacht: Although cheaper it means that your name shines in the register. Anybody could see that you own the certain yacht and delivers you to the full liability. This is the main reason why majority of Delaware yachts are corporate owned.
Corporate owned yacht: If you decide to form a Delaware corporation to own property like yacht, aircraft or real estate there can be tax advantages and you can limit your personal liability. Incorporation can give your business credibility, prestige and substance. A corporation has certain tax advantages; the owners and directors can be protected from personal liability, and the business can raise capital through the sale of shares of stock. Only One officer or Director is needed in Delaware, but many jurisdictions have stricter guidelines, forcing you to name other directors and officers to get established.
When the yacht is subsequently put up for sale, the owner has the flexibility of selling the yacht as an asset of the corporation or selling the entire corporation of which the yacht is an asset. The latter circumstance is accomplished by simply transferring the shares of stock in the corporation over to the new owners. This arrangement can be very attractive to the prospective purchaser because title to the yacht has not changed hands - it is still registered to the corporation. Therefore, no sales tax may be assessable on the transfer, and, no re-registration costs are incurred.
Advantages for Delaware corporations
- Delaware is considered the most attractive state in U.S.A. for incorporation.
- Only one incorporator is required. A corporation may be the incorporator.
- There is no minimum capital requirement.
- The franchise tax compares favourably with that of other states.
- For companies doing business outside of Delaware, there is no corporation income tax.
- Delaware has no sales tax, personal property tax or intangible property tax on corporations.
- No taxation upon shares of stock held by non-residents and no inheritance tax uponnon-resident holders.
- A corporation may keep all of its books and records outside of Delaware.
- You may have a principal place of business/address outside of the State of Delaware as well.
Below are the major types of corporation services we offer.
Limited Liability Companies (LLC) in Delaware and "IBC" in jurisdiction of SVG
We urge you to consider whether incorporation is right for operating your business. If you are uncertain, you should check with your accountant or tax advisor to determine if a corporation or a limited liability company best suits your individual needs.
Limited Liability Company advantages and summary
A Delaware Limited Liability Company (LLC) is a hybrid business entity, designed to combine the advantages of a corporation with the tax advantages of a partnership. Like a corporation, the owners of an LLC are not personally liable for the LLC's debts and obligations. Like a partnership, an LLC can be treated as a pass-through entity for tax purposes. This may be advantageous for those who cannot meet the IRS requirements for an "S" corporation and desire the tax pass-through treatment.
- Pass-through tax treatment of a partnership
- Liability protection afforded by a corporation (and not available with a partnership)
- Freedom from the restrictive and burdensome qualification and operating requirements that come with an "S" corporation.